Verizon selling federal services unit to Jacobs Engineering

Verizon's (VZ) Federal Network Systems (FNS) unit is being sold to Jacobs Engineering (JEC) for an undisclosed sum. The deal is expected to close this summer. (PR)

FNS has over 750 employees, and provides IT, network design/maintenance, data security and systems integration services. It's focused on servicing intelligence, DoD, and federal civilian clients.

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  • earnnow
    , contributor
    Comments (4) | Send Message
    JEC was a great international engineering company back in the day (pre 2008). It really was demolished in the global downturn and almost became a solely domestic play. It has been a stealth acquirer and really has been rebuilding itself off of its new base of government contracts. This is another leg of its new strategy of reinventing itself. Still a very long term turn around story as it has clawed its way back into business waiting for the European turn around where it was so strong.
    22 Apr 2014, 10:00 AM Reply Like
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